Former Congress President Rahul Gandhi called out the Narendra Modi-led government at the Centre for the high prices of petrol and diesel in the country despite the plunging of US crude prices. The US crude oil prices had dipped into negative territory for the first time in history due to the Coronavirus outbreak on Monday. However, just a day later, on Tuesday the prices jumped back into the positive territory.
Taking to Twitter, Rahul Gandhi stated that despite the fall in crude oil prices across the world to unexpected figures, the price in our country remains at Rs 69 per litre for petrol and Rs 62 per litre for diesel. The Congress leader found the dip amid the disaster 'so good' and remarked that the government has turned a deaf year.
Oil prices plunged below zero on Monday as demand for energy collapsed drastically amid the Coronavirus pandemic and traders don't want to get stuck owning crude with nowhere to store it. Demand for oil has collapsed so much so due to the coronavirus pandemic that facilities for storing crude is nearly full.
However the prices bounced back on Tuesday as a sign of relief. West Texas Intermediate for May delivery rose to USD 1.10 a barrel after diving to an unprecedented low of -USD 37.63 in New York as the pandemic brings the global economy, transport and factory activity to a halt. It later eased back to sit 30 cents higher.
President Donald Trump said Monday the United States will purchase as much as 75 million barrels of oil and put it into the strategic reserve for the first time in decades. Trump made the announcement as oil prices plunged below zero on Monday, the latest never-before-seen number to come out of the economic coma caused by the coronavirus pandemic.